Lytton Park neighbourhood real estate update 2016
August 10, 2016
There have been forty-five MLS sales in Lytton Park approaching the end of the third quarter of 2016. Demand continues to heavily outweigh supply leading to numerous bidding wars with houses averaging just eight days on the market. The days on market stat is a little skewed as many listings hold back offers for approximately one week so essentially these homes are selling on the day that offers are being presented. The average list to sale price ratio is 98% which is quite high given just two sales were below the one million dollar mark with the rest exceeding the one million dollar mark.
Lytton Park is centrally located just 20 minutes to downtown Toronto. This neighbourhood is known for its excellent public and private schools and an abundance of parkland and recreational facilities nearby. Shopping districts on Yonge Street, Avenue Road and Eglinton Avenue West are all accessible on foot as is the Yonge Street subway making this neighbourhood a strong draw with walk score enthusiasts. Lytton Park's traditional housing stock consists of a mix of Georgian, Tudor, Craftsman, and Colonial style homes. Recently some of the new builds are choosing a contemporary design. The lots are typically 40-50 feet wide and the streets are well treed creating a quiet and pretty streetscape.
The median sale price in Lytton Park is $1,795,000. That average is somewhat surpressed by a fair number of sales along Lytton Park's busier arterial streets such as Avenue Road and Lawrence Avenue. Fifteen sales surpassed the two million dollar mark. Many of these were original Lytton Park houses that have had renovations and additions. Last year the new builds in Lytton Park were having trouble breaking the three million dollar mark. This year four new home sales have already exceeded that milestone with one sale over five million. Look for prices to keep trending upwards in Lytton Park through the last quarter of 2016 and into 2017.
* If you are thinking of buying a home in Lytton Park in 2016 contact David Dunkelman, Broker, Royal Lepage Signature. I have helped many families find the perfect home in this neighbourhood. Email: email@example.com or call Direct 416-726-6574
Lytton Park Toronto neighbourhood real estate insights provided by David Dunkelman, Broker, Royal Lepage Signature Realty Brokerage. You can contact David at Office: (416) 443-0300, Cell: (416) 726-6574, email: firstname.lastname@example.org or visit the website www.realestatewithdavid.com
** The information provided herein is compiled from source data obtained from the Toronto Real Estate Board. It is presented here for information purpose only. All data are subject to updates and revisions. The author assumes no responsibility for the accuracy of any information shown.